Вот контекст этой фразы (из блога Crooking Timber):
The context (my apologies to the Brits in the audience; this stuff can be like ancient Greek to us Yanks): In the early 1970s, Tory MP Edward Heath was facing high unemployment and massive trade union unrest. Despite having come into office on a vague promise to contest some elements of the postwar Keynesian consensus, he was forced to reverse course. Instead of austerity, he pumped money into the economy via increases in pensions and benefits and tax cuts. That shift in policy came to be called the “U-Turn.”
Fast forward to 1980: Thatcher had been in power for a year, and the numbers of unemployed were almost double that of the Heath years. Thatcher faced a similar call from the Tory “Wets” in her own party—conservatives who weren’t keen on her aggressive free-market counterrevolution—to do a U-Turn, and many expected she would. This was her response.